Investor Presentation

Global Metals and Mining Conference
1
Investor Presentation
October 28, 2022

2
Caution Regarding Forward-Looking Statements
Both these slides and the accompanying oral presentation contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than
statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “should”, “believe” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation.
These forward-looking statements include, but are not limited to, statements concerning: forecast production; forecast operating costs, unit costs, capital costs and other costs; sales forecasts; our strategies, objectives and goals; future prices and price volatility for copper, zinc, steelmaking coal, blended bitumen and other products
and commodities that we produce and sell, as well as oil, natural gas and petroleum products; the demand for and supply of copper, zinc, steelmaking coal, blended bitumen and other products and commodities that we produce and sell; our expectation that QB2 will double our consolidated copper production by 2023; the potential
of our projects to add 5x current copper equivalent production; projected distributions of cash flow to shareholders under the capital allocation framework; our sustainability goals, including our emissions reduction targets and our goal to be a nature positive company by 2030 and the pathway we propose to get there including all
future oriented statements set out on the slide titled “Pathway to Net Zero by 2050”;; the fact that we are on track to stabilize and reduce selenium in the Elk Valley; our intention that all of our tailings facilities will conform with the GISTM by August 2023; the statement that we have the potential to become a top 10 copper producer;
our expectations regarding our QB2 project, including expectations regarding timing of first production, capital costs, capacity, mine life, strip ratios, C1 cash cost and AISC and tax treatment; expected copper production growth and revenue by business unit following QB2 full production; planned or forecast production levels and
future production of our operations and other development projects, including the statements relating to our copper growth pipeline and the ability of our development projects to add 5x current copper equivalent production; expectations relating to our San Nicolás joint venture, including timing for completion of feasibility study and
EIA/ETJ permit submission; expectations relating to our NewRange Copper Nickel joint venture, including expectations regarding future funding; QB2 illustrative net cash flows and other forecasts on the “Cash Flow Inflection” slide and other QB2 and Teck cash flow and returns projections; statements related to our capital allocation
framework, including statements regarding potential returns to shareholders, potential cash flows and allocation of funds; and all guidance included in the Appendix or elsewhere in this presentation, including, but not limited to, guidance relating to production, sales and unit cost, capital expenditure and water treatment.
Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control, including risks: that may affect our operating or capital plans; that are generally encountered in the permitting and development of mineral and oil and gas properties such as unusual or unexpected geological formations;
associated with the COVID-19 pandemic; associated with unanticipated metallurgical difficulties; relating to delays associated with permit appeals or other regulatory processes, ground control problems, adverse weather conditions or process upsets or equipment malfunctions; associated with any damage to our reputation;
associated with labour disturbances and availability of skilled labour; associated with fluctuations in the market prices of our principal commodities; associated with changes to the tax and royalty regimes in which we operate; created through competition for mining and oil and gas properties; associated with lack of access to capital or
to markets; associated with mineral and oil and gas reserve estimates; posed by fluctuations in exchange rates and interest rates, as well as general economic conditions; associated with changes to our credit ratings; associated with our material financing arrangements and our covenants thereunder; associated with climate change,
environmental compliance, changes in environmental legislation and regulation, and changes to our reclamation obligations; associated with procurement of goods and services for our business, projects and operations; associated with non-performance by contractual counterparties; associated with potential disputes with partners
and co-owners; associated with operations in foreign countries; associated with information technology; risks associated with tax reassessments and legal proceedings and other risk factors detailed in our Annual Information Form. Declaration and payment of dividends and capital allocation are generally the discretion of the Board,
and our dividend policy and capital allocation framework will be reviewed regularly and may change. Dividends and share repurchases can be impacted by share price volatility, negative changes to commodity prices, availability of funds to purchase shares, alternative uses for funds and compliance with regulatory requirements.
Risks related to our San Nicolás and NewRange Copper Nickel joint venture including customary risks relating to closing of the transactions, including the receipt of regulatory consents and the satisfaction of other closing conditions, as well as risks related to the operation of a project as a joint venture, including those set out in our
Annual Information Form.
Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this presentation. Such statements are based on a number of assumptions that may prove to be incorrect, including, but not limited to, assumptions regarding: general
business and economic conditions; commodity and power prices; assumption that QB2 becomes fully producing within the periods set out in this presentation; the supply and demand for, deliveries of, and the level and volatility of prices of copper, zinc, steelmaking coal, and blended bitumen and our other metals and minerals, as
well as oil, natural gas and other petroleum products; the timing of receipt of permits and other regulatory and governmental approvals for our development projects and other operations, including mine extensions; our costs of production, and our production and productivity levels, as well as those of our competitors; continuing
availability of water and power resources for our operations; credit market conditions and conditions in financial markets generally; our ability to procure equipment and operating supplies and services in sufficient quantities on a timely basis; the availability of qualified employees and contractors for our operations, including our new
developments and our ability to attract and retain skilled employees; the satisfactory negotiation of collective agreements with unionized employees; the impact of changes in Canadian-U.S. dollar exchange rates, Canadian dollar-Chilean Peso exchange rates and other foreign exchange rates on our costs and results; the accuracy
of our mineral, steelmaking coal and oil reserve and resource estimates (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which these are based; tax benefits and tax rates; the impacts of the COVID-19 pandemic on our operations and projects and on global markets;
and our ongoing relations with our employees and with our business and joint venture partners. Assumptions regarding QB2 include current project assumptions and assumptions contained in the final feasibility study, as well as there being no further unexpected material and negative impact to the various contractors, suppliers and
subcontractors for the QB2 project relating to COVID-19 or otherwise that would impair their ability to provide goods and services as anticipated. Expectations regarding our operations are based on numerous assumptions regarding the operations. Statements concerning future production costs or volumes are based on numerous
assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated; that customers and other counterparties perform their contractual obligations; that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and
supplies, labour disturbances, COVID-19, interruption in transportation or utilities, or adverse weather conditions; and that there are no material unanticipated variations in the cost of energy or supplies. Our sustainability goals are based on a number of additional assumptions, including regarding the availability and effectiveness of
technologies needed to achieve our sustainability goals and priorities; the availability of clean energy sources and zero-emissions alternatives for transportation on reasonable terms; our ability to implement new source control or mine design strategies on commercially reasonable terms without impacting production objectives; our
ability to successfully implement our technology and innovation strategy; and the performance of new technologies in accordance with our expectations. Assumptions regarding water quality management in the Elk Valley include assumptions that additional treatment will be effective at scale, that the technology and facilities operate
as expected and that required permits will be obtained. Assumptions regarding our San Nicolás project and our NewRange Copper Nickel joint venture assume those transactions close on the terms and conditions set out in the applicable agreements and within the expected timelines.
The foregoing list of important factors and assumptions is not exhaustive. Other events or circumstances could cause our actual results to differ materially from those estimated or projected and expressed in, or implied by, our forward-looking statements. See also the risks and assumptions discussed under “Risk Factors” in our 2021
Annual Information Form and in subsequent filings, which can be found under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov). Except as required by law, we undertake no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, whether as a result of new
information or future events or otherwise.
QB2 Project Disclosure
All economic analysis with respect to the QB2 project based on a development case which includes inferred resources within the life of mine plan, referred to as the Sanction Case, which is the case on which Teck based its development decision for the QB2 project. Inferred resources are considered too speculative geologically to
have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Inferred resources are subject to greater uncertainty than measured or indicated resources and it cannot be assumed that they will be successfully upgraded to measured and indicated through further
drilling. Nonetheless, based on the nature of the mineralization, Teck has used a mine plan including inferred resources as the development mine plan for the QB2 project.
The economic analysis of the Sanction Case, which includes inferred resources, may be compared to economic analysis regarding a hypothetical mine plan which does not include the use of inferred resources as mill feed, referred to as the Reserve Case, and which is set out in Appendix slides “QB2 Project Economics Comparison”
and “QB2 Reserves and Resources Comparison”.
Scientific and technical information in this presentation and related appendices regarding our QB2 property was reviewed and approved by Rodrigo Alves Marinho, P.Geo., an employee of Teck and a Qualified Person under National Instrument 43-101.

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Industry
leading
copper growth
• QB2 expected to double
consolidated copper
production by 2023
• Portfolio of attractive
projects has the potential
to add 5x current copper
equivalent production
Rebalance portfolio
of high-quality assets
to low-carbon metals
• Proven operational
excellence and
RACE21TM underpins
cost competitiveness
• Average 5-year adjusted
EBITDA margins of 41%1
• Maximize cash flows
to fund copper growth
Balance growth
and cash returns
to shareholders
• Investment grade
balance sheet
• Rigorous capital
allocation framework
distributes
30-100% of available
cash flow to shareholders
• Approaching cash flow
inflection and potential
increase in cash returns
Leadership
in sustainability
• Sustainability embedded
into operations and
strategy
• Industry-leading
sustainability rankings
• Among world’s lowest
carbon intensities for
copper, zinc and
steelmaking coal
production
• Net-zero operations by
2050
Adjusted EBITDA margin is a non-GAAP ratio. See “Non-GAAP Financial Measures and Ratios” slides.
Long-term
sustainable
shareholder
value
Copper Growth
Our investment proposition

4
About Teck
Teck announced it has agreed to sell its 21.3% interest in Fort Hills to Suncor Energy Inc. Closing is subject to customary closing conditions, including receipt of regulatory approvals. See Teck’s press release dated October 26, 2022.
Adjusted EBITDA margin is a non-GAAP ratio. See “Non-GAAP Financial Measures and Ratios” slides.
Revenue1 ($ billions)
49%
2017
2018
2019
2020
2021
YTD 2022
Adjusted EBITDA Margin1
Our Purpose
To provide essential resources the world is counting on to make life
better while caring for the people, communities, and land that we love.
Copper
23%
Zinc
26%
Energy
4%
Steelmaking
Coal
47%
Revenue by Business Unit (5-year average)
Copper
A significant copper
producer in the Americas
and a global leader. With
QB2 as our cornerstone,
we have one of the best
copper production growth
profiles in the industry.
Highland Valley Copper
Antamina
Quebrada Blanca
Carmen de Andacollo
Quebrada Blanca 2
1
2
3
4
5
Steelmaking Coal
The world’s second largest
seaborne exporter, with
some of the highest-quality
steelmaking coal required
for the low-carbon
transition.
Fording River
Greenhills
Line Creek
Elkview
1 Producing Operation
Development Project
$4.7
2017
2018
2019
2020
2021
YTD 2022
Cash Flows from Operations1 ($ billions)
$7.1
$13.5
2017
2018
2019
2020
2021
YTD 2022
Zinc
One of the largest
producers of mined zinc
globally. We own one of
the world’s largest fully
integrated zinc and lead
smelting and refining
facilities.
Red Dog
Trail Operations
1
2
$15.5 53%

5
Gold Class Award
2022
“AA” rating
Performance in
top 10% of
subindustry
#3 ranked
diversified
metals mining
company
Top ranked
North American
Mining company
Top percentile
mining subsector
Rated Prime
among the top
10% of Metals &
Mining companies
Material Sustainability Focus Ratings
Health and Safety
• 90% reduction in HPIF from 2010 to 2021
Climate Change
• Commitment to net-zero operations by 2050
• 33% reduction in carbon intensity by 2030
• 96% renewable power at operations in 2021
Water
• No freshwater use at QB2
• On track to stabilize and reduce selenium in Elk Valley
Equity, Diversity & Inclusion
• One-third of all new hires are women
• 21% women in Teck workforce in 2021, vs. Bloomberg
2019 industry average of 15.7%
Human Rights & Indigenous Peoples
• 85 active agreements with Indigenous Peoples
• 61% of Red Dog employees are NANA shareholders
• Zero human rights incidents in 2021
Tailings
• Zero significant tailings incidents in 2021
• All facilities to conform with GISTM by August 2023
Top-ranked mining company
DJSI World & North American Indices
ESG Leadership
Committed to the highest standards of safety and sustainability

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Metals and
minerals for a
low-carbon
economy
• Rebalancing portfolio towards
copper with our attractive
portfolio of copper projects
• QB2 to double consolidated
copper production by 2023
Our Climate Change Strategy
Starting from a strong position
Competitive
low carbon
operations
• Among world’s lowest carbon
intensities for copper, zinc and
steelmaking coal production
• Proven operational excellence
and RACE21TM underpins cost
and carbon competitiveness
Support emissions
reduction in our
value chain
• Working with steelmaking coal
customers and transportation
providers to reduce
downstream emissions
by 2030
• Ambition to achieve net zero
Scope 3 emissions by 2050
Reducing our
operational
carbon footprint
• Targeting:
‒ Net zero Scope 2
emissions by 2025
‒ 33% Scope 1 and 2 carbon
intensity reduction by 2030
‒ Net zero Scope 1 and 2
emissions by 2050
• Set a goal to be a nature
positive company by 2030

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Pilot carbon capture, utilization, and storage (CCUS) at Trail
Pathway to Net Zero by 2050
Assessing fugitive methane emissions
2020 2021 2022 2023 2024 2026 2027 2028 2029
Sourcing 100% renewable energy at Carmen de Andacollo
Agreement with Caterpillar to deploy 30 zero-emissions large haul trucks by 2030
Field Test Early-Learner Haul Truck with Caterpillar
Begin deployment of 30 Caterpillar
zero-emission trucks
Contracting 100% of operational energy at QB2
from renewable sources
Evaluating the elimination of fossil-fuel power dryers at our steelmaking coal operations
Complete First Nature-Based Solutions Offset Project
Begin transition to zero-emission coal drying
Contracted 50% of operational energy at QB2 from renewable sources
Electricity Diesel Coal and Natural Gas Fugitive Methane Offsets & Removals
Piloting and adopting smaller zero emissions vehicles (e.g. Electric Buses)
Teck to pilot electric transport truck at Highland Valley Copper Operations
-1
0
1
2
3
4
Million
tonnes
of
CO
2
e
Baseline 2030 2040 2050
Carbon Emission Reductions
2025
Net-zero
Scope 2 emissions
2030
33% intensity
reduction
Evaluating trolley-assist and renewable fuels for reducing diesel consumption

8
G R O W M A X I M I Z E V A L U E , D R I V E F R E E C A S H F L O W
Copper Zinc Steelmaking Coal
Global
Demand
Growth to 2050  2.3x
Green technologies, electrification
and energy efficiency
 2.1x
Galvanizing to protect steel, batteries,
renewables, infrastructure
 1.0x Seaborne steelmaking coal
Decarbonization of coastal blast furnaces, and
steel demand resulting from population growth,
urbanization and a growing middle class
Market Position Top 20 producer today,
Potential to become top 101
Largest net zinc miner globally Second largest seaborne
steelmaking coal supplier
Cost
Competitiveness
Antamina
First quartile2
QB2
Second quartile2
Red Dog
First quartile3
Antamina
Second quartile3
Steelmaking Coal Delivered Operating Margin
Top quartile4
CO2 Intensity
Scope 1 & 2
Portfolio of Future-Essential Resources
Capitalizing on strong demand in the transition to a low-carbon economy
Teck Teck
Cumulative production (million tonnes) Cumulative production (million tonnes) Cumulative production (million tonnes)
Teck
Teck’s premium HCC has
industry-leading CO2 efficiency

9
Based on Sanction Case (Including 199 Mt Inferred Resources).
Refer to “QB2 Project Economics Comparison” and “QB2 Reserves and Resources Comparison” slides for Reserve Case (Excluding Inferred Resources).
The description of the QB2 project Sanction Case includes inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.
Inferred resources are subject to greater uncertainty than measured or indicated resources and it cannot be assumed that they will be successfully upgraded to measured and indicated through further drilling.
C1 cash unit cost per pound and all-in sustaining unit costs (AISC) per pound are non-GAAP ratios. See “Non-GAAP Financial Measures and Ratios” slides.
Near-Term Copper Growth Through QB2
Doubling our consolidated copper production by 2023
C1 Cash Cost3 & AISC4 Curve5 (US$/lb, 2023E)
25% 50% 75% 100%
Cumulative Paid Metal (%)
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
• Large, long-life deposit capable of supporting multiple expansions
• Very low strip ratio of 0.7
• Competitive, second quartile, all-in sustaining costs (AISC)
• Only uses ~18% of the 2021 reserves and resource tonnage1
• Initial mine life of 28 years based on plant throughput of 143 ktpd2
• Tax stability agreements for 15 years from commercial production
• Community agreements in place and strong local relationships
Flagship copper project in Northern Chile
AISC Cash Cost

10
Transformational Growth Rebalances Portfolio to Copper
Industry-leading copper growth profile
Copper peers include Antofagasta, First Quantum, Freeport, Hudbay, Lundin and Southern Copper. Diversified peers include Anglo American, BHP, Glencore, and Rio Tinto.
Revenue by business unit “Illustrative with QB2 at full production” assumes historical five-year average commodity prices 2017-2021A of US$186/t HCC, US$3.10/lb Cu and US$1.24/lb Zn.
Copper
23%
Zinc
26%
Energy
4%
Steelmaking
Coal
47%
Five-Year Average
2017-2021A
QB2 drives Teck’s consolidated copper production growth 2021A–2025E1
Copper Peers
1%
Diversified Peers
24%
Teck
110%
QB2 at full production rebalances our portfolio to copper
Copper
35%
Zinc
24%
Steelmaking
Coal
41%
Illustrative with QB2
at Full Production
Revenue by Business Unit

320
61
151
134 43
QB2
(100%)
San
Nicolás
(50%)
QB Mill
Expansion
(100%)
Zafranal
(100%)
NorthMet
(50%)
Galore
Creek
(50%)
Future QB
Expansions
(100%)
Nueva
Unión
(50%)
Mesaba
(50%)
Schaft Creek
(100%)
Unrivaled suite of options diversified
by geography, scale, time to
development and by-products
• Balance growth with returns
to shareholders
• De-risk through integrated technical,
social, environmental and commercial
evaluations
• Prudent optimization of funding
sources
Industry Leading Copper Growth Pipeline
Potential to add ~5x of current copper equivalent production
11
Calculated using asset’s first five full years average annual copper equivalent production. Consolidated (100%) production shown for Quebrada Blanca 2, QB Mill Expansion, Zafranal and Schaft Creek. Attributable production shown for
NorthMet, San Nicolás, Galore Creek, NuevaUnión and Mesaba.
Assumes closing of an agreement with PolyMet to advance their NorthMet project and our Mesaba mineral deposit, and an agreement with Agnico Eagle to advance our San Nicolás project. Closing is subject to customary closing conditions,
including receipt of regulatory approvals. See Teck’s press releases dated July 20, 2022 and September 16, 2022.
Near Term (2023-2028) Medium Term (2029-2033) Future Potential (2034+)
337
2021 Actual
CuEq
production2
~1.5 Mt
~1.0 Mt
~2.2 Mt
+200%
+350%
+470%
Cu-Au
Cu-Zn
Au-Ag
Cu-Au-Ag
Cu-Ni
PGM-Co
Cu-Mo
Au-Ag
Cu-Ag-Mo
Cu-Ag-Mo
Cu-Au
Ag-Mo
Cu-Ni
PGM-Co
~1.9 Mt
Potential Annual Copper Equivalent Production Growth (kt)1

12
Delivering on Copper Growth Strategy
Recent transactions demonstrate significant value recognition in our copper growth pipeline
Assumes closing of an agreement with PolyMet to advance their NorthMet project and our Mesaba mineral deposit, and an agreement with Agnico Eagle to advance our San Nicolás project. Closing is subject to customary closing conditions,
including receipt of regulatory approvals. See Teck’s press releases dated July 20, 2022 and September 16, 2022.
San Nicolás JV (Teck 50% | Agnico Eagle 50%)
A long-term partnership between two international Canadian mining companies
San Nicolás Field Operation Camp (~60 km SE of Zacatecas)
• Agnico Eagle will subscribe for US$580 million of shares in the Teck subsidiary
that owns San Nicolás, giving Agnico Eagle a 50% effective interest
• Partners have complementary skillsets, relationships, and funding capabilities
that enhances the permitting, development and production path
• Established mining jurisdiction with existing infrastructure and skilled workforce
• Extremely competitive capital intensity and first quartile costs
• Reduces Teck’s near-term funding and enhances equity returns
• Feasibility Study scheduled for completion in Q1 2024
• EIA and ETJ permit applications ready for submission in Q1 2023
NewRange Copper Nickel JV (Teck 50% | PolyMet 50%)
Responsible delivery of critical metals to support the transition to a low-carbon economy
NewRange Copper Nickel will use existing infrastructure for processing facilities
• Combines the NorthMet and Mesaba projects in the established Iron Range
region of Minnesota under one management team and approach
• Glencore owns 71% of PolyMet
• Plan for 29 ktpd mine and processing facility at NorthMet, when fully permitted
• Mesaba is one of the world’s largest undeveloped copper-nickel-PGM deposits
• JV committing up to US$170M to position NorthMet for sanction in H1 2024
and to advance Mesaba

13
Illustrative QB2 net cash flow is calculated based on operating cash flow less sustaining capex of ~$100M and project finance repayment of US$294M per annum. For further details and various scenario assumptions, see “Cash Flow and
Returns with QB2 at Full Production” slide.
Cash Flow Inflection
Approaching potential significant cash flow generation with QB2 at full production
Illustrative QB2 Net Cash Flow Scenarios at Full Production1
Inflow
Outflow
Operating Cash Flow Sustaining Capital Project Finance Repayment 2022E QB2 Capex2
$2.9 –
3.0B
$1.6B $1.3B
$1.0B
$2.1B
$1.8B
$1.5B
$0.1B $0.1B $0.1B
$0.4B $0.4B $0.4B
US$4.50/lb
Copper
US$4.00/lb
Copper
US$3.50/lb
Copper

14
108
537
350
480
404 399
377
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
Strong Financial Position
Liquidity1
$8.3B
Net Debt to Adjusted EBITDA2
0.5x
Debt Maturity Ladder2 (US$M)
Strong Balance Sheet
Net debt to adjusted EBITDA is a non-GAAP ratio. See “Non-GAAP Financial Measures and Ratios” slides.
Dividends
$64M
Share Buybacks
$730M
Debt Repayment
$42M
Returns to Shareholders and Debt Repaid in Q3 2022
Dividends
$468M
Share Buybacks
$1.4B
Returns to Shareholders and Debt Repaid in YTD 2022
Debt Repayment
$1.2B
Moody’s
Baa3
Fitch
BBB-
Credit Ratings1
S&P
BBB-

Capital Allocation Framework
Balance for growth
and cash returns
to shareholders
RETURNS
GROWTH
Capital
Structure
Committed
Growth Capital
Sustaining
Capital
including stripping
Base
Dividend
$0.50 per share
Supplemental
Shareholder Distributions
minimum 30% available cash flow
Share
Buybacks
Additional buybacks will
be considered regularly
Completed C$1.4B
year-to-date to September 30, 2022
Cash Flow
from Operations
after interest and finance charges,
lease payments and distributions
to non-controlling interests
Our capital allocation framework describes how we allocate funds to sustaining and growth capital, maintaining solid investment grade credit metrics and returning excess cash to shareholders. This framework reflects our
intention to make additional returns to shareholders by supplementing our base dividend with at least an additional 30% of available cash flow after certain other repayments and expenditures have been made. For this
purpose, we define available cash flow (ACF) as cash flow from operating activities after interest and finance charges, lease payments and distributions to non-controlling interests less: (i) sustaining capital and capitalized
stripping; (ii) committed growth capital; (iii) any cash required to adjust the capital structure to maintain solid investment grade credit metrics; (iv) our base $0.50 per share annual dividend; and (v) any share repurchases
executed under our annual buyback authorization. Proceeds from any asset sales may also be used to supplement available cash flow. Any additional cash returns will be made through share repurchases and/or
supplemental dividends depending on market conditions at the relevant time.
15

16
$ 7.5 B
$ 7.2 B
$ 6.7 B
$ 1.1 B $ 1.0 B
$ 0.9 B
$ 3.5 B $ 3.3 B
$ 3.0 B
$ 2.4 B $ 2.3 B
$2.1B
Cash Flow and Returns with QB2 at Full Production1
Illustrative scenarios indicate potential available cash flow of $6-7 per share
US$4.50/lb Copper US$4.00/lb Copper US$3.50/lb Copper
Operating Cash Flow Available Cash Flow2 Minimum 30% Shareholder Distribution Balance for Growth and Additional Returns
$6.75
per share
$6.52
per share
$5.84
per share
Illustrative Teck cash flow scenarios including QB2 on a 100% consolidation basis and assuming QB2 at full production,

Industry leading
copper growth
Rebalance portfolio
of high-quality assets
to low-carbon metals
Balance growth
and cash returns
to shareholders
Leadership
in sustainability
Long-term
sustainable
shareholder
value
Driving Long-Term Sustainable Shareholder Value
17

Appendix

19
For Further Information
Supplemental Information for Investors
Click here or scan the QR code below to reference slides
Contact Investor Relations
investors@teck.com
1.877.759.6226
604.699.4257

Production Guidance
2021 Actual
Previous
2022 Guidance
Current
2022 Guidance1
Previous 3-Year
Guidance (2023-2025)
Current 3-Year
Guidance1 (2023-2025)
Copper2,3,4
Highland Valley 130.8 127-133 127-133 130-160 110-170
Antamina 100.2 91-96 91-96 90-95 90-95
Carmen de Andacollo 44.8 45-50 45-50 50-60 50-60
Quebrada Blanca6 11.5 10-11 10-11 245-300 170-300
Total copper6 287.3 273-290 273-290 515-615 420-625
Zinc2,3,5
Red Dog 503.4 540-570 540-570 510-550 510-550
Antamina 104.0 90-95 90-95 80-100 80-100
Total zinc 607.4 630-665 630-665 590-650 590-650
Refined zinc
Trail 279.0 270-285 257-267 295-315 295-315
Steelmaking coal (Mt) 24.6 23.5-24.0 22.0-22.5 26.0-27.0 25.0-26.0
Lead2
Red Dog 97.4 80-90 80-90 85-95 85-95
Molybdenum2,3
(Mlbs)
Highland Valley 1.1 0.8-1.3 0.8-1.3 3.0-5.0 1.0-5.0
Antamina 1.1 1.8-2.2 1.8-2.2 3.0-4.0 3.0-4.0
Quebrada Blanca6 - - - 4.0-13.0 4.0-13.0
Total molybdenum 2.2 2.6-3.5 2.6-3.5 10.0-22.0 8.0-22.0
Production (000’s tonnes except as noted)
20

Sales and Unit Cost Guidance
Total cash unit costs per pound, net cash unit costs per pound, and adjusted site cash cost of sales per tonne are non-GAAP ratios. See “Non-GAAP Financial Measures and Ratios” slides.
Q3 2022
Actual
Q4 2022
Guidance1
Zinc in concentrate
Red Dog (kt) 235 130-150
Steelmaking coal (Mt) 5.6 5.0-5.4
2021 Actual
Previous
2022 Guidance
Current
2022 Guidance1
Copper2
(US$/lb)
Total cash unit costs 1.80 1.93-2.03 1.93-2.03
Net cash unit costs 1.39 1.48-1.58 1.48-1.58
Zinc3
(US$/lb)
Total cash unit costs 0.56 0.54-0.59 0.54-0.59
Net cash unit costs 0.30 0.37-0.43 0.37-0.43
Steelmaking coal (C$/tonne)
Adjusted site cash cost of sales 65 87-92 87-92
Transportation costs 44 43-46 46-49
Sales Unit Costs
21

2021 Actual
Previous 2022
Guidance
Current 2022
Guidance1
Sustaining
Copper $ 184 $ 340 $ 340
Zinc 154 190 190
Steelmaking coal2 475 650 650
Energy5 80 140 90
Corporate 10 5 5
$ 903 $ 1,325 $ 1,275
Growth3
Copper4 $ 103 $ 235 $ 235
Zinc 14 35 35
Steelmaking coal 440 35 35
Energy 3 – –
Corporate 3 – –
$ 563 $ 305 $ 305
Total
Copper $ 287 $ 575 $ 575
Zinc 168 225 225
Energy 83 140 90
Corporate 13 5 5
$ 1,466 $ 1,630 $ 1,580
Capital Expenditures Guidance
Sustaining and Growth Capital Sustaining and Growth Capital (cont.)
Capitalized Stripping
2021 Actual
Previous 2022
Guidance
Current 2022
Guidance1
Total sustaining and growth $ 1,466 $ 1,630 $ 1,580
QB2 capital expenditures 2,580 2,700 - 2,900 2,900–3,000
Total before SMM/SC contributions 4,046 4,330-4,530 4,480–4,580
Estimated SMM/SC contributions
to capital expenditures
(401) (800)-(860) (860)-(890)
Estimated QB2 project financing
draw to capital expenditures
(1,376) (315) (315)
Total, net of partner contributions
and project financing
$ 2,269 $ 3,215-3,355 $ 3,305-3,375
2021 Actual
Previous 2022
Guidance
Current 2022
Guidance1
Capitalized Stripping
Copper $ 207 $ 250 $ 250
Zinc 91 90 90
$ 667 $ 870 $ 870
Teck’s share in C$ millions, except as noted
22

(C$ millions, unless otherwise noted)
2021
Actual
Previous 2022
Guidance
Current 2022
Guidance1
3-Year
Guidance1
(2022-2024)
Long-Term
Guidance1,3
(C$/tonne)
Capital Expenditures
Sustaining capital (water management and water treatment, including
October 2020 direction issued by Environment and Climate Change
Canada)2
$ 226 $ 200 $ 200 $ 650-750 $ 2.00
Operating Costs
Operating costs associated with water treatment (C$/tonne) $ 0.75 – – $ 3.00
Steelmaking Coal Capital Expenditures and Operating Costs Related to Water Treatment
Water Treatment Guidance
23

Sensitivities
2022 Mid-Range
Production Estimates2 Changes
Estimated Effect of Change on
Profit Attributable to Shareholders3
($ in millions)
Estimated Effect
on EBITDA3
($ in millions)
US$ exchange C$0.01 $ 67 $ 103
Copper (kt) 281.5 US$0.01/lb 4 7
Zinc (kt)4 909.5 US$0.01/lb 9 12
Steelmaking Coal (Mt) 22.25 US$1/t 17 27
WTI5 US$1/bbl 3 5
Sensitivity of our Annualized Profit Attributable to Shareholders and EBITDA1
EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures and Ratios” slides. 24

25
QB2 Project Economics Comparison
The description of the QB2 project Sanction Case includes inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral
reserves. Inferred resources are subject to greater uncertainty than measured or indicated resources and it cannot be assumed that they will be successfully upgraded to measured and indicated through further drilling. C1 cash costs
per pound and all-in sustaining costs (AISC) per pound are non-GAAP ratios. See “Non-GAAP Financial Measures and Ratios” slides.
Reserve
Case1
Sanction
Case2
Mine Life Years 28 28
Strip Ratio
First 5 Full Years 0.16 0.44
LOM3 0.41 0.70
C1 Cash Cost4
First 5 Full Years US$/lb $1.29 $1.28
LOM3 US$/lb $1.47 $1.37
AISC5
First 5 Full Years US$/lb $1.40 $1.38
LOM3 US$/lb $1.53 $1.42

26
QB2 Reserves and Resources Comparison
Reserves Mt
Cu
Grade %
Mo
Grade %
Silver
Grade ppm
Proven 476 0.51 0.018 1.40
Probable 924 0.47 0.019 1.25
Reserves 1,400 0.48 0.018 1.30
Reserve Case (as at Nov 30, 2018)1,2
Reserves Mt
Cu
Grade %
Mo
Grade %
Silver
Grade ppm
Proven 409 0.54 0.019 1.47
Probable 793 0.51 0.021 1.34
Reserves 1,202 0.52 0.020 1.38
Sanction Case (as at Nov 30, 2018)2,4
Resources
(Exclusive of Reserves)5 Mt
Cu
Grade %
Mo
Grade %
Silver
Grade ppm
Measured 36 0.42 0.014 1.23
Indicated 1,436 0.40 0.016 1.13
M&I (Exclusive) 1,472 0.40 0.016 1.14
Inferred 3,194 0.37 0.017 1.13
+ Inferred in SC pit 199 0.53 0.022 1.21
Resources
(Exclusive of Reserves)3 Mt
Cu
Grade %
Mo
Grade %
Silver
Grade ppm
Measured 36 0.42 0.014 1.23
Indicated 1,558 0.40 0.016 1.14
M&I (Exclusive) 1,594 0.40 0.016 1.14
Inferred 3,125 0.38 0.018 1.15

27
Endnotes
Slide 3: Copper Growth
1. Five years from January 1, 2017 to December 31, 2021.
Slide 4: About Teck
1. Five years from January 1, 2017 to December 31, 2021. Year-to-date to September 30, 2022.
Slide 8: Portfolio of Future-Essential Resources
1. Based on Wood Mackenzie’s Q4 2021 long term outlook. Based on equity ownership and including all probable and possible
projects to 2040.
2. Data compiled by Teck based on Wood Mackenzie’s total cash + capex cost curve 2021.
3. Data compiled by Teck based on Wood Mackenzie’s total cash + capex cost curve 2023.
4. Data compiled by Teck based on Wood Mackenzie’s data.
Slide 9: Near-Term Copper Growth Through QB2
1. Reserves and resources as at December 31, 2021.
2. Based on Sanction Case mine plan tonnage.
3. C1 cash costs (also known as net cash unit costs) are presented after by-product credits assuming US$10.00/lb molybdenum
and US$18.00/oz silver. C1 cash costs for QB2 include stripping costs during operations.
4. All-in sustaining costs (AISC) are net cash unit costs (also known as C1 cash costs) plus sustaining capital expenditures. Net
cash unit costs are calculated after cash margin by-product credits assuming US$10.00/lb molybdenum and US$18.00/oz silver.
Net cash unit costs for QB2 include stripping costs during operations. Cash margins for by-products are non-GAAP financial
measures. See “Non-GAAP Financial Measures” slides.
5. Source: Wood Mackenzie. Average 2021-2040.
Slide 10: Transformational Growth Rebalances Portfolio to Copper
1. Source: Wood Mackenzie base case (attributable) copper production dataset. Consolidated production estimates were derived
based on accounting standards for consolidation for Teck and its peers. Peer production metrics for 2021 and 2025 are from
Wood Mackenzie. Peer averages are the simple averages.
Slide 11: Industry Leading Copper Growth Pipeline
1. CuEq calcs use US$3.50/lb Cu, US$1.15/lb Zn, US$10.00/lb Mo, US$8.00/lb Ni, US$21.50/lb Co, US$1,550/oz Au,
US$20.00/oz Ag, US$1,100/oz Pt and US$1,450/oz Pd.
2. 2021 actual includes Antamina, Andacollo, Highland Valley, and Quebrada Blanca. Excludes Highland Valley Copper and
Antamina mine life extensions. Excludes Highland Valley Copper and Antamina mine life extensions. 2021 actual copper
equivalent production was previously reported as 345kt using metal prices of US$3.39/lb Cu, US$1.32/lb Zn, US$9.44/lb Mo,
US$7.53/lb Ni, US$20.59/lb Co, US$1,602/oz Au, US$21.07/oz Ag, US$1,103/oz Pt and US$1,429/oz Pd. 2021 actual copper
equivalent production assuming metal price assumptions mentioned in Endnotes 1 returned 337kt.
Slide 13: Cash Flow Inflection
1. Illustrative Proforma; includes QB2 on a 100% consolidation basis; QB2 operating cash flow assumes 290ktpy copper sales and
US$1.28/lb C1 cash costs. C1 cash costs per pound is a non-GAAP ratio. See “Non-GAAP Financial Measures and Ratios”
slides.
2. Guidance for QB2 capital expenditures as at October 20, 2022.
Slide 14: Strong Financial Position
1. As at October 26, 2022.
2. As at September 30, 2022.
Slide 16: Cash Flow and Returns with QB2 at Full Production
1. Illustrative Teck cash flow scenarios including QB2 on a 100% consolidation basis and assuming QB2 at full production,
US$250 per tonne hard coking coal, US$1.35 per pound zinc, US$58 per barrel Western Canadian Select and a Canadian to
US dollar exchange rate of $1.27. QB2 operating cash flow assumes 290ktpy copper sales and US$1.28/lb C1 cash costs.
Based on a base dividend of C$0.50/share, paid quarterly, and guidance for capital expenditures as at Oct 20, 2022. QB2
project finance repayments are two semi-annual principal repayments of US$147 million each. Per share amounts assume
512.3 million shares outstanding as at Oct 20, 2022. C1 cash costs per pound (net cash unit costs) is a non-GAAP ratio. See
“Non-GAAP Financial Measures and Ratios” slides.
Slide 20: Production Guidance
1. As at October 26, 2022. See Teck’s Q3 2022 press release for further details.
2. Metal contained in concentrate.
3. We include 100% of production and sales from our Quebrada Blanca and Carmen de Andacollo mines in our production and
sales volumes, even though we do not own 100% of these operations, because we fully consolidate their results in our financial
statements. We include 22.5% of production and sales from Antamina, representing our proportionate ownership interest.
4. Copper production includes cathode production at Quebrada Blanca and Carmen de Andacollo.
5. Total zinc includes co-product zinc production from our 22.5% proportionate interest in Antamina.
6. 2022 guidance excludes production from Quebrada Blanca concentrate production. Three-year guidance 2023—2025 includes
Quebrada Blanca concentrate production.
Slide 21: Sales and Unit Cost Guidance
2. Copper unit costs are reported in U.S. dollars per payable pound of metal contained in concentrate. Copper net cash unit costs
include adjusted cash cost of sales and smelter processing charges, less cash margins for by-products including co-products.
Guidance for 2022 assumes a zinc price of US$1.57 per pound, a molybdenum price of US$18.00 per pound, a silver price of
US$22 per ounce, a gold price of US$1,800 per ounce and a Canadian/U.S. dollar exchange rate of $1.29.
3. Zinc unit costs are reported in U.S. dollars per payable pound of metal contained in concentrate. Zinc net cash unit costs are
mine costs including adjusted cash cost of sales and smelter processing charges, less cash margins for by-products. Guidance
for 2022 assumes a lead price of US$0.88 per pound, a silver price of US$22 per ounce and a Canadian/U.S. dollar exchange
rate of $1.29. By-products include both by-products and co-products.
Slide 22: Capital Expenditures Guidance
2. Steelmaking coal 2022 sustaining capital guidance includes $200 million of water treatment capital. 2021 includes $226 million
of water treatment capital.
3. Growth capital expenditures include RACE capital expenditures for 2022 of $50 million, of which $10 million relates to copper,
$5 million relates to zinc, and $35 million relates to steelmaking coal.
4. Copper growth capital guidance for 2022 includes studies for HVC 2040, Antamina, QBME, Zafranal, San Nicolás and Galore
Creek. Copper sustaining capital guidance for 2022 includes Quebrada Blanca concentrate operations.
5. Energy capital guidance is to September 30, 2022.

28
Endnotes
Slide 23: Water Treatment Guidance
2. The 2022 portion is included in 2022 guidance. See Teck’s Q3 2022 press release for further details on the October 2020
Direction issued by Environment and Climate Change Canada.
3. Assumes 21 million tonnes in 2020 and 27 million tonnes long term.
Slide 24: Sensitivities
1. As at October 26, 2022. The sensitivity of our annualized profit(loss) attributable to shareholders and EBITDA to changes in the
Canadian/U.S. dollar exchange rate and commodity prices, before pricing adjustments, based on our current balance sheet, our
2022 mid-range production estimates, current commodity prices and a Canadian/U.S. dollar exchange rate of $1.30.
2. All production estimates are subject to change based on market and operating conditions.
3. The effect on our profit(loss) attributable to shareholders and on EBITDA of commodity price and exchange rate movements will
vary from quarter to quarter depending on sales volumes. Our estimate of the sensitivity of profit and EBITDA to changes in the
U.S. dollar exchange rate is sensitive to commodity price assumptions.
4. Zinc includes 262,000 tonnes of refined zinc and 647,500 tonnes of zinc contained in concentrate.
5. Our WTI oil price sensitivity takes into account the change in operating costs across our business units, as our operations use a
significant amount of diesel fuel.
Slide 25: QB2 Project Economics Comparison
1. Based on go-forward cash flow from January 1, 2017. Based on all equity funding structure.
2. Based on go-forward cash flow from January 1, 2019. Based on optimized funding structure.
3. Life of Mine annual average figures exclude the first and last partial years of operations.
4. C1 cash costs are presented after by-product credits assuming US$10.00/lb molybdenum and US$18.00/oz silver. Net cash unit
costs are consistent with C1 cash costs. C1 cash costs for QB2 include stripping costs during operations. Net cash unit costs
and C1 cash costs are non-GAAP financial ratios. See “Non-GAAP Financial Measures” slides.
5. All-in sustaining costs (AISC) are net cash unit costs (also known as C1 cash costs) plus sustaining capital expenditures. Net
cash unit costs are calculated after cash margin by-product credits assuming US$10.00/lb molybdenum and US$18.00/oz silver.
Net cash unit costs for QB2 include stripping costs during operations. AISC, net cash unit costs and cash margins for by-
products are non-GAAP financial ratios. See “Non-GAAP Financial Measures” slides.
Slide 26: QB2 Reserves and Resources Comparison
1. Mineral reserves are constrained within an optimized pit shell and scheduled using a variable grade cut-off approach based on
NSR cut-off US$13.39/t over the planned life of mine. The life-of-mine strip ratio is 0.41.
2. Both mineral resource and mineral reserve estimates assume long-term commodity prices of US$3.00/lb Cu, US$9.40/lb Mo
and US$18.00/oz Ag and other assumptions that include: pit slope angles of 30–44º, variable metallurgical recoveries that
average approximately 91% for Cu and 74% for Mo and operational costs supported by the Feasibility Study as revised and
updated.
3. Mineral resources are reported using a NSR cut-off of US$11.00/t and include 23.8 million tonnes of hypogene material grading
0.54% copper that has been mined and stockpiled during existing supergene operations.
4. Mineral reserves are constrained within an optimized pit shell and scheduled using a variable grade cut-off approach based on
NSR cut-off US$18.95/t over the planned life of mine. The life-of-mine strip ratio is 0.70.
5. Mineral resources are reported using a NSR cut-off of US$11.00/t outside of the reserves pit. Mineral resources include inferred
resources within the reserves pit at a US$ 18.95/t NSR cut-off and also include 23.8 million tonnes of hypogene material grading
0.54% copper that has been mined and stockpiled during existing supergene operations.

Non-GAAP Financial
Measures and Ratios

30
Non-GAAP Financial Measures and Ratios
Our financial results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. This presentation includes reference to certain non-GAAP financial measures and
non-GAAP ratios, which are not measures recognized under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar financial measures or ratios disclosed by other issuers. These financial measures
and ratios have been derived from our financial statements and applied on a consistent basis as appropriate. We disclose these financial measures and ratios because we believe they assist readers in understanding the results of our operations
and financial position and provide further information about our financial results to investors. These measures should not be considered in isolation or used in substitute for other measures of performance prepared in accordance with IFRS. For more
information on our use of non-GAAP financial measures and ratios, see the section titled “Use of Non-GAAP Financial Measures and Ratios” in our most recent Management Discussion & Analysis, which is incorporated by reference herein and is
available on SEDAR at www.sedar.com. Additional information on certain non-GAAP ratios is below.
Non-GAAP Ratios
Adjusted EBITDA margins – Adjusted EBITDA margins are Adjusted EBITDA, divided by revenue. There is no similar financial measure in our financial statements with which to compare. Adjusted EBITDA is a non-GAAP financial measure. We
believe this measure assists us and readers to compare margins on a percentage basis among our business units.
Total cash unit costs per pound – Total cash unit costs per pound for our copper and zinc operations includes adjusted cash costs of sales, as described below, plus the smelter and refining charges added back in determining adjusted revenue.
This presentation allows a comparison of total cash unit costs, including smelter charges, to the underlying price of copper or zinc in order to assess the margin for the mine on a per unit basis.
Cash margins for by-products per pound – Cash margins for by-products per pound is a non-GAAP ratio comprised of cash margins for by-products divided by payable pounds sold.
Net cash unit costs per pound (C1 cash costs per pound) – Net cash unit costs of principal product per pound, after deducting co-product and by-product margins, are also a common industry measure. By deducting the co- and by-product
margin per unit of the principal product, the margin for the mine on a per unit basis may be presented in a single metric for comparison to other operations.
All-in sustaining cost (AISC) – All in sustaining cost (AISC) is a non-GAAP ratio comprised of C1 cash cost (net cash unit costs) plus sustaining capital expenditures, divided by payable pounds sold. There is no similar financial measure in our
financial statements with which to compare. C1 cash costs per pound (net cash unit costs per pound) is a non-GAAP financial measure. By adding sustaining capital expenditures to C1 cash cost (net cash unit costs), the costs for the mine on a per
unit basis may be presented as a common industry measure for comparison to other operations.
Adjusted site cash cost of sales per tonne – Adjusted site cash cost of sales per tonne for our steelmaking coal operations is defined as the cost of the product as it leaves the mine excluding depreciation and amortization charges, out-bound
transportation costs and any one-time collective agreement charges and inventory write-down provisions.
Net debt to adjusted EBITDA ratio – Net debt to adjusted EBITDA ratio is net debt divided by adjusted EBITDA for the twelve months ended at the reporting period, expressed as the number of times adjusted EBITDA needs to be earned to repay
the net debt.

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